CapitaLand Ascott Trust and Mapletree Industrial Trust make acquisitions: REITs Weekly Watch

What happened?

An index of Singapore REITs closed slightly lower compared to the previous week, as higher government bond yields weighed on the sector. 

The CSOP iEdge S-REIT Leaders Index ETF closed at S$0.82, losing 0.4% from its close in the previous week of $0.823.

Hospital REITs and Singapore REITs with China assets led the gains, following the massive stimulus measures announced by the Chinese government last week to lift the economy. REITs with the best stock performance were CDL Hospitality Trust, CapitaLand China Trust, and Paragon REIT.

On the other hand, REITs with US exposure saw continued profit-taking, with losses led by Keppel Pacific Oak US REIT, Prime US REIT, and Manulife US REIT. 

Singapore REITs Top Performers

• CDL Hospitality Trust
• CapitaLand China Trust
• Paragon REIT
• Mapletree Industrial Trust
• Frasers Hospitality Trust

Singapore REITs Worst Performers

• Keppel Pacific Oak US REIT
• Lippo Malls Indonesia Retail Trust
• Manulife US REIT
• Prime US REIT
• Daiwa House Logistics Trust

Check out our Singapore REIT screener to discover the best REIT for your portfolio.

REIT news of the week

• CapitaLand Ascott Trust (CLAS) has agreed to acquire the 329-room lyf Funan Singapore at an agreed property value of $263 million. The proposed acquisition is expected to be accretive to CLAS’s distribution per stapled security (DPS) by 1.5%. 
• Mapletree Industrial Trust (MINT) is proposing to acquire a multi-storey mixed-use facility in Tokyo, Japan for JPY14.5 billion ($129.8 million). The proposed acquisition is expected to be accretive to MINT’s distribution per unit (DPU).
• Manulife US REIT divested a property in California for US$117m less US$6.2m for outstanding tenant improvement allowances, free rent and lease commissions. The proceeds will pay off all loans due in 2025. Aggregate leverage will improve to 54.2% and interest cost to 4.16%.
• Elite UK REIT divested a vacant property in Dundee for £1.3m, 41.7% above valuation. It also submits planning application for a site in Blackpool for data centre development.

What we’re reading

Elite UK REIT - Room for positive asset repricing

Elite UK REIT owns 150 office assets located across the United Kingdom.

Broker reports 

• Mapletree Industrial Trust – Landbanking opportunity by DBS
• CapitaLand Ascott Trust – Living her best life by DBS
• Equity Picks: Reduce exposure to a large-cap REIT by DBS

Article

• Prime US REIT: A 4-Year Financial Performance Breakdown and Insights from Management by The Singaporean Investor
• 3 Singapore REITs to Watch Out for in October by The Smart Investor
• Elite UK REIT - Room for positive asset repricing by Beansprout
• Guide to Investing in REIT ETFs in Singapore by Syfe
• Guide to REITs: How to Evaluate and Choose the Best REITs in Singapore by Syfe
• 3 REITs with Attractive Dividend Yields to Help You Beat Inflation by SmallCapAsia
• CapitaLand Ascott Trust Expands Singapore Portfolio with Exciting New Acquisition: Should You Invest? by ProsperUs
• Results of CICT Preferential Offering by My Sweet Retirement
• Key Takeaways from the 9th Annual REITs and Real Estate Investment Summit 2024 by The Singaporean Investor
• SREITs Fundamental Review @ 29 September 2024
• S-REITs Properties Map - Singapore Industrial Properties
• S-REITs Properties Map - Singapore Office Properties

Credit to Vince from REIT-Tirement for compiling Singapore REIT blog posts and videos

YouTube

• Sep24 REITs Ptf Review!! ALL TIME HIGH!!
• Tiger Live | Singapore REITs Uncovered: Building Your Investment Foundation by Tiger Brokers Singapore
• CapitaLand China Trust Surged 35%: Strategy Paid Off, But What’s Next? by The Dividend Uncle
• CICT (C38U) 1H 2024 Financial Results (30 Sep 2024) by One-eyed_investor
• I Found the REIT with the HIGHEST Upside Potential! | S-Reits by Josh Tan - TheAstuteParent
• Capitaland Ascott Trust CLAS: Singapore's Hidden Gem by Iggy the Investing Iguana
• REITs Bull Run, where to take profit off my top 3 positions? (1st Oct 2024) by One-eyed_investor
• Parkway Life REIT Rated BUY $4.48 by OCBC. WHY? by Iggy the Investing Iguana
• Risks Ahead for Singapore Office REITs: What I Intend to Do? by The Dividend Uncle

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